TransAlta Renewables Inc. (TSE:RNW) Receives Average Rating of “Hold” from Analysts

Posted by MarketBeat News on Aug 5th, 2022

TransAlta Renewables Inc. (TSE:RNW – Get Rating) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$18.89.

Several research firms have recently weighed in on RNW. Raymond James set a C$19.00 target price on TransAlta Renewables and gave the company a “market perform” rating in a research report on Thursday, May 5th. CIBC lowered their target price on shares of TransAlta Renewables from C$19.00 to C$18.50 in a report on Thursday, July 21st. National Bankshares cut their price target on shares of TransAlta Renewables from C$19.00 to C$18.50 and set a “sector perform” rating on the stock in a report on Monday, May 9th. TD Securities upped their price target on shares of TransAlta Renewables from C$18.00 to C$18.50 and gave the company a “hold” rating in a report on Thursday, May 5th. Finally, Royal Bank of Canada cut their price target on shares of TransAlta Renewables from C$21.00 to C$20.00 and set a “sector perform” rating on the stock in a report on Thursday, May 5th.

TransAlta Renewables Stock Up 2.1 %

TSE RNW opened at C$18.27 on Friday. The stock has a 50 day moving average price of C$17.03 and a 200-day moving average price of C$17.49. The company has a debt-to-equity ratio of 48.92, a quick ratio of 0.67 and a current ratio of 0.79. The company has a market capitalization of C$4.88 billion and a P/E ratio of 38.06. TransAlta Renewables has a one year low of C$15.87 and a one year high of C$22.55.

TransAlta Renewables (TSE:RNW – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported C$0.15 earnings per share for the quarter, missing the consensus estimate of C$0.18 by C($0.03). The business had revenue of C$143.00 million during the quarter, compared to the consensus estimate of C$118.10 million. As a group, equities analysts predict that TransAlta Renewables will post 0.788661 EPS for the current fiscal year.

TransAlta Renewables Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.0783 per share. This represents a $0.94 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Friday, August 12th. TransAlta Renewables’s dividend payout ratio is presently 195.83%.

About TransAlta Renewables

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TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. The company operates through Canadian Wind, Canadian Hydro, Canadian Gas, US Wind and Solar, US Gas, and Australian Gas segments. As of February 24, 2022, it owned and operated 26 wind facilities, 13 hydroelectric facilities, 8 natural gas generation facilities, 2 solar facilities, 1 natural gas pipeline, and 1 battery storage project comprising 2,968 megawatts of net generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and the State of Western Australia.